SHANGHAI, May 17 (SMM) – China imported 126,000 mt of aluminium scrap in March, down 51,000 mt or 28.83% from a year ago, according to data from China Customs.
This brought imports in January-March to 184,000 mt, down 40.16% from the same period last year.
Imports via general trade in March dropped 42.56% from a year earlier to 73,900 mt, while imports via processing trade rose 7.09% year on year to 51,900 mt.
Prices of US zorba held stable at $1,210-1,250/mt on a cif basis, while prices of European materials fell below $1,200/mt on a Hong Kong cif basis.
Import restriction on Category Six aluminium scrap under HS code 760200090 will begin from July 1. SMM learned from the Secondary Metal Association that companies are now able to apply for permits for importing aluminium scrap and that it is not very difficult for processors to renew their import permits. Imports of aluminium scrap are set to fall, but the size of the decline remains unforeseeable.